We experienced very strong underlying demand in the second quarter, with good growth in all business areas resulting in an organic increase in sales of 10 percent. The shortage of components has been handled in exemplary manner by our companies and is judged to have had only a limited impact on the Group's overall capacity to deliver to customers during the period. The market situation, combined with continued good cost control and well-handled price increases from suppliers gave record high margins and gave an EBITA growth of 39 percent for the quarter.
It is very satisfying to see our business model demonstrate its strength. Our entrepreneurial companies, which operate in close proximity to the market and maintain strong relationships with suppliers, have again shown their resilience, continuing to foster optimum conditions for sustained profitable growth, concludes Niklas Stenberg, CEO.
For the full CEO comment, please see the Interim Report.
Stockholm, October 28, 2021
This information is information that Addtech AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below, at 8.15 a.m CET on October 28, 2021.
A phone conference and webcast will be arranged in relation to the report, at 10.00 a.m.
For participation in the conference:
Sweden: +46 856618467
UK/International: +44 2071 928338 (toll-free)
United States: +1 6467413167
For further information, please contact:
Niklas Stenberg, President and CEO, +46 8 470 49 00
Malin Enarson, CFO, +46 705 979 473
Addtech in brief
Addtech is a technical solutions group that provides technological and economic value added in the link between manufacturers and customers. Addtech operates in selected niches in the market for advanced technology products and solutions. Its customers primarily operate in the manufacturing industry and infrastructure. Addtech has about 3,000 employees in more than 140 subsidiaries that operate under their own brands. The Group has annual sales of more than SEK 11 billion. Addtech is listed on the Nasdaq Stockholm.